LAST UPDATE 10:20
Russia’s Rosatom has launched legal proceedings seeking $3 billion in damages from Finnish consortium Fennovoima for canceling planned nuclear power plant construction in Finland, the Russian company said in a statement late Monday.
The Fennovoima joint venture, in which Rosatom holds a 34% stake, in May terminated the contract with Rosatom to build a nuclear power plant at Cape Hanhikivi in ​​northwestern Finland, citing delays and increased risks arising from the war in Ukraine.
“To date, six lawsuits have been filed by the state-owned company, for a total of $3 billion,” Rosatom said on its Telegram account, adding that details of the proceedings are confidential.
After Russia invaded Ukraine in February, the Finnish government said it would not grant a permit to build the plant because it deemed it no longer viable.
Source: Capital
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